Pricey housing burdens middle-class New Yorkers: OPINION

NY construction costs among highest in the country partly due to taxes and fees

New York /
Jul.July 29, 2014 11:30 AM

Maybe Mayor Bill de Blasio should’ve called it the “tale of three cities.” The city’s most forgotten group, according to City Record managing editor Steven Malanga in a New York Post editorial, is New York’s middle class.

“From its arcane regulatory regime to the nosebleed taxes and fees it imposes on firms and individuals, City Hall drives up the cost of living and working here dramatically, making it harder for ordinary New Yorkers to get ahead,” Malanga wrote.

New York has become one of the most expensive cities in the country to build in, according Malanga. Taxes and fees tied to new development are partially responsible to the high prices and the city’s approval process adds about $200,000 per building.

Expensive housing, high taxes and high prices to construct buildings have had a powerful effect on people’s lives, Malanga wrote. [NYP] — Claire Moses


Related Articles

arrow_forward_ios
‘Paying the severance would have cost more’: New law pushes hotels to reopen
“Paying the severance would have cost more”: New law pushes hotels to reopen
“Paying the severance would have cost more”: New law pushes hotels to reopen
Department of City Planning's Anita Laremont (iStock)
City Planning votes to restrict hotel development
City Planning votes to restrict hotel development
Mayor Bill de Blasio (Getty, iStock)
Mystery group sues to stop de Blasio from restricting hotel development
Mystery group sues to stop de Blasio from restricting hotel development
Photo Illustration of New York Mayor Bill de Blasio (Getty)
New York Mayor Bill de Blasio starts renovation work on Park Slope home
New York Mayor Bill de Blasio starts renovation work on Park Slope home
(Getty)
De Blasio commits $90M more to rebuild Chinatown community center
De Blasio commits $90M more to rebuild Chinatown community center
Council member Adrienne Adams and Mayor Bill de Blasio (Getty, Facebook via Adams)
Task force lays out possible changes to city’s tax lien sale
Task force lays out possible changes to city’s tax lien sale
De Blasio taps Anita Laremont to take over Marisa Lago’s City Planning roles
De Blasio taps Anita Laremont to take over Marisa Lago’s City Planning roles
De Blasio taps Anita Laremont to take over Marisa Lago’s City Planning roles
The inside of a Queens apartment damaged by Hurricane Ida (Getty)
Queens homeowners demand answers for flooding
Queens homeowners demand answers for flooding
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...